You’re a busy business professional with big goals. You want to move to the next level in your career, but you know you’ll need that prestigious CFA designation to open doors. The only thing standing in your way is passing those notoriously tough exams. You’ve narrowed your prep options down to two big names: Kaplan or Mark Meldrum. You’re ready to commit to a review course, but how do you decide between them? Which CFA prep provider is right for YOU in 2024? You’re about to make a big investment of both time and money, so you want to choose wisely. In this article, we’ll compare the pros and cons of Kaplan and Meldrum based on features, teaching styles, pass rates and more. We’ll look at pricing, dig into the materials and highlight what past students have said. With this complete 2024 guide, you’ll feel confident you’re making the best choice for your learning style, schedule and goals.
Overview of Mark Meldrum Vs kaplan for CFA Exam Prep
If you’re studying for the CFA exam, you’ve probably wondered which prep provider is right for you. Kaplan Schweser and Mark Meldrum are two of the most popular choices. Kaplan is a well-known, established company that provides structured curricula for all three levels of the CFA exam. However, their packages can be pricey, ranging from $1,000 to $2,500.
Mark Meldrum, on the other hand, is an independent instructor who offers video lectures and study materials at a lower cost. His video courses for each level currently cost between $225 to $350. While Mark Meldrum’s offerings may be more budget-friendly, some candidates prefer Kaplan’s bite-sized readings and practice questions.
Cost and Materials
With Kaplan, you pay a premium price but get a comprehensive set of print and digital materials, including textbooks, workbooks, flashcards and a question bank with over 5,000 practice questions. Mark Meldrum provides video lectures and a smaller number of practice questions. However, for the price, many find Mark Meldrum’s materials sufficient for passing the exam.
Teaching Style
If you prefer an interactive, multimedia learning experience, you may favor Mark Meldrum’s engaging video lectures. However, some learners work better with Kaplan’s structured curriculum and readings. It comes down to your individual learning preferences and needs.
Practice Exams
Both providers offer full-length mock exams to help prepare you for the actual CFA exam experience. Kaplan’s question bank provides more exam-like questions to help reinforce your learning. While Mark Meldrum offers a smaller number of practice questions, many students find them to be very representative of the actual CFA exam.
In the end, the choice between Kaplan and Mark Meldrum comes down to your budget, how you learn best, and how much practice you need. Either one can effectively prepare you to pass the CFA exam, but you have to determine which one matches your needs and priorities.
Comparing Course Offerings and Teaching Styles
When deciding between Kaplan and Mark Meldrum for your CFA prep, you’ll want to consider their differing approaches. Kaplan focuses on an exam-focused approach, cutting out extraneous material to help you pass the CFA exam. Mark Meldrum, on the other hand, covers a lot more material, not all of which is tested on the exam.
Kaplan’s Exam-Focused Approach
Kaplan offers bite-sized readings, lectures, and practice questions aimed at exactly what you need to know for the exam. Their course materials are focused on the Learning Outcome Statements (LOS) to ensure you understand each concept and calculation that could appear on the exam. While efficient, some candidates feel Kaplan’s approach is too narrow.
Mark Meldrum’s Comprehensive Coverage
In contrast, Mark Meldrum aims to give you a complete understanding of each topic. His video lectures cover concepts and examples not tested on the exam to provide more context. While some of this additional information may not directly help you pass the exam, many candidates appreciate the depth of understanding they gain from Mark Meldrum’s teaching style. The downside is that his lectures can be quite long, and you’ll need to determine what you need to focus on for the actual exam.
At the end of the day, you need to determine whether an efficient, exam-focused approach or a more comprehensive understanding is right for your needs and learning style. Both Kaplan and Mark Meldrum offer high-quality CFA exam prep, so you can’t go wrong either way. But choosing the provider that best fits how you learn will help set you up for success on this challenging set of exams.
Evaluating Practice Exams and Question Banks
To pass the CFA exam, practicing with questions that simulate the actual exam experience is key. Both Kaplan and Mark Meldrum offer practice questions and mock exams to help you evaluate your progress.
Kaplan’s QBank
Kaplan’s QBank provides over 4,000 practice questions across all levels of the CFA curriculum. The questions are categorized by topic so you can focus your practice where you need it most. Kaplan’s questions tend to be a bit more straightforward, covering the basics and fundamentals you must know to pass the exam. Some candidates prefer to start with Kaplan to build a strong foundation before progressing to more challenging questions.
Mark Meldrum’s Mock Exams
In contrast, Mark Meldrum is known for more challenging mock exams that truly replicate the difficulty of the actual CFA exam. His questions require strong analytical and critical thinking skills to solve. Working through Mark Meldrum’s mocks is highly recommended, especially as you get closer to exam day. Review the explanations for any questions you miss to shore up your knowledge gaps.
To maximize your chances of passing, use a combination of both Kaplan and Mark Meldrum for practice. Start with Kaplan’s QBank to learn the curriculum, then progress to Mark Meldrum’s mocks to apply your knowledge under exam conditions. Review all questions, right or wrong, and note any topics you struggle with. Then go back to the curriculum or watch video lessons to strengthen your understanding.
Diversifying your question sources will expose you to the wide range of ways concepts could be tested. The more practice questions you do, the more familiar and comfortable you’ll feel on exam day. Just be sure not to memorize the answers, as the actual CFA exam will contain brand new questions you’ve never seen before. Practice questions should be used as a tool to evaluate your strengths, determine your weaknesses, and develop strategies to ultimately pass the CFA exam.
Weighing Cost and Accessibility
When choosing between Kaplan and Mark Meldrum for your CFA exam prep, cost and accessibility are two of the most important factors to consider.
Pricing Options Galore
Kaplan Schweser offers the lowest cost option with their basic CFA Level 3 study package for $799. However, they also provide more robust options with additional resources for significantly higher prices. Mark Meldrum, on the other hand, offers very affordable video lectures at $350 for each level. His packages provide access to videos and slides, but no physical books or practice questions.
UWorld provides a range of options from $499 up to $1,199 depending on how many additional resources and practice materials you want access too. They aim to provide flexible options at different price points so you can choose what resources would benefit you the most based on your own needs and budget.
Convenient and Accessible
Another key consideration is how accessible the prep materials will be for your needs. Kaplan’s offerings provide both digital access as well as physical books, giving you flexibility in how you prefer to study. However, their online materials require an active internet connection to access.
Mark Meldrum’s video lectures can be streamed or downloaded for offline viewing so you have constant access with or without internet connectivity. His video-focused approach may also appeal more to visual learners. The ability to re-watch explanations as needed can be very helpful when tackling complex CFA concepts.
In the end, you need to evaluate which factors are most important for your own situation. If cost is a concern, Mark Meldrum’s very affordable video lectures are a great option. If you want a wider range of resources and maximum accessibility, Kaplan likely provides more flexibility. Think about how you best learn and study to determine which resources would benefit you the most for passing the CFA exam.
Making the Final Decision: Kaplan or Mark Meldrum in 2024?
Cost Comparison
If cost is a major factor in your decision, Mark Meldrum likely has the edge. His video package for Level 1 is typically a few hundred dollars, much less than Kaplan’s courses which can run $1,000 or more. While Kaplan does frequently offer discounts and financing options to make their courses more affordable, Mark Meldrum’s self-study materials are still the lower-cost option.
Learning Style
How you learn best will impact which provider is the best fit. If you prefer a structured classroom environment with live or on-demand lectures and scheduled deadlines, Kaplan may suit you well. Their courses provide a guided timeline to keep you on track. However, if you prefer to learn at your own pace with flexible access to materials, Mark Meldrum’s video lectures may align better with your needs. His video explanations of concepts let you rewind and re-watch as needed to fully grasp topics.
Practice Resources
Kaplan offers a large volume of practice questions and mocks aligned with the syllabus to thoroughly prepare you for the exam. While Mark Meldrum does provide video explanations for official CFAI practice questions and a few mocks, the volume is not as large as Kaplan’s Qbank and mocks. If you feel you need intensive practice to feel confident in your exam readiness, Kaplan may have a slight advantage. However, for understanding core concepts, Mark Meldrum’s focused video lectures are very effective.
Instructor Experience
Both Kaplan and Mark Meldrum employ highly qualified instructors with years of experience helping CFA candidates pass their exams. Mark Meldrum himself is a renowned CFA instructor who has been guiding students for over a decade. While Kaplan also has seasoned instructors, Mark Meldrum’s experience and passion for teaching the CFA curriculum is a hallmark of his review course. His enthusiastic and engaging video style resonates with many students.
In summary, for the 2024 exam cycle, both Kaplan and Mark Meldrum offer strong CFA exam prep options with a range of resources to fit different needs and budgets. Evaluate what is most important for your success and learning preferences to determine the best choice for you. With effective studying using either course, you can feel well-prepared to earn your charter.
Conclusion
So there you have it. Both Kaplan and Mark Meldrum have their strengths and weaknesses when it comes to CFA exam prep. Kaplan offers more structured learning with lots of practice questions and instructor support. Meldrum provides focused video instruction and flexibility at a lower price point. It really comes down to your personal learning style and budget. Consider trying the free trials to get a feel for the teaching approach. At the end of the day, passing the CFA exam is about dedication and practice, regardless of the prep provider. Stay focused on understanding the material, doing tons of practice questions, and simulating the exam conditions. With commitment and hard work, you’ve got this!